The first products of the new automotive Alliance Stellantis will appear in 2023.
An agreement to complete the merger in equal shares PSA Group and Fiat group Automobiles signed in December 2019. The result of such Association was to become the new automotive Alliance, the world’s fourth largest in terms of production and third – largest annual revenue. Previously, the full merger process will take from 12 to 15 months.
Meanwhile, the announced name of the new auto giant – Stellantis, the word Stello (“star”, in Latin). The development of the brand was implemented by French Agency Publicis Group. Logo promise to show later, its development is not over. The name and logo of the new Alliance will only be used in media projects and corporate documentation. Jointly developed cars will go under the respective brands of concerns. The new Alliance they will be fourteen: from PSA – Peugeot, Citroen, Opel, Vauxhall and DS, and from the FCA – Fiat, Abarth, Alfa Romeo, Lancia, Maserati, Chrysler, Dodge, Jeep and Ram. The first joint models are planning to introduce in 2023.
One of the main goals of the new Alliance is a significant reduction in the number of vehicle platforms and engine families. Expected synergies annual impact of approximately 3.7 billion euros in the first year. Annual sales Stellantis will amount to 8.7 million vehicles, the cumulative revenue of nearly 170 billion euros, operating profit of 11 billion euros.
As previously reported, to manage the new company would have a Board of Directors consisting of 11 members. Five members of the Board of Directors will be appointed by the FCA and its reference shareholder (including the head of the FCA, John Elkann as chair), five – Groupe PSA and its reference shareholders (including the Senior non-Executive Director and Vice-President). Also on the Board of Directors will include two members representing employees of the FCA and Groupe PSA. Chief Executive officer for the first five years, was appointed the current head of Peugeot-Citroen Carlos Tavares. The parties will establish a new management company that will register on the new York and Italian stock exchanges and in Euronext. The headquarters of the new auto giant will be located in the Netherlands.